Westfield Capital Management Co. LP Invests $73.59 Million in Wynn Resorts, Limited $WYNN

Westfield Capital Management Co. LP purchased a new stake in Wynn Resorts, Limited (NASDAQ:WYNN) in the third quarter, HoldingsChannel reports. The firm purchased 573,694 shares of the casino operator’s stock, valued at approximately $73,588,000.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new position in Wynn Resorts during the 2nd quarter worth $106,289,000. Palidye Holdings Caymans Ltd bought a new stake in shares of Wynn Resorts during the 2nd quarter valued at $104,629,000. Thrivent Financial for Lutherans grew its holdings in shares of Wynn Resorts by 6,391.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock worth $70,138,000 after purchasing an additional 737,234 shares in the last quarter. Greenwich Wealth Management LLC bought a new position in shares of Wynn Resorts in the second quarter worth $46,845,000. Finally, Bamco Inc. NY raised its stake in Wynn Resorts by 56.5% in the second quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock valued at $125,259,000 after purchasing an additional 482,570 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

More Wynn Resorts News

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Morgan Stanley keeps an Overweight rating and set a $136 price target, signaling analyst confidence in WYNN’s medium?term recovery despite near?term noise. Wynn Resorts (NASDAQ:WYNN) Given New $136.00 Price Target at Morgan Stanley
• Positive Sentiment: UBS trimmed its price target slightly to $146 from $148 but maintained a Buy rating, noting the company’s transition toward free?cash?flow generation (Al Marjan opening expected to boost diversified cash flow). Wynn Resorts price target lowered to $146 from $148 at UBS
• Neutral Sentiment: Wynn Al Marjan Island was added to Preferred Hotels & Resorts’ Legend Collection, supporting long?term hospitality and geographic diversification plans (positive for future cash flow). Preferred Hotels & Resorts Welcomes Wynn Al Marjan Island to its Esteemed Legend Collection
• Negative Sentiment: Wynn confirmed a cyberattack (linked to the ShinyHunters group) that reportedly exposed sensitive data for more than 800,000 current and former employees; attackers demanded about $1.5M ransom — a major operational and reputational risk. Wynn Resorts Cyberattack And Lawsuit Put Cybersecurity And Valuation In Focus
• Negative Sentiment: Federal litigation followed quickly: two federal lawsuits and at least one class action allege inadequate safeguards and response, increasing potential legal costs and settlement risk. Cyberattack prompts two federal lawsuits against Wynn Resorts
• Negative Sentiment: Reporting highlights management’s public statements that attackers said they deleted the stolen data — coverage that raises governance and disclosure concerns and may hurt investor confidence. Wynn Resorts takes attacker’s word for it that stolen staff data was deleted
• Negative Sentiment: Wynn confirmed the breach publicly and said it has engaged external cybersecurity experts and is investigating, but the immediate earnings impact is uncertain and regulatory, remediation, and litigation costs could pressure near?term margins. Wynn Resorts says hackers acquired employee data

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Wynn Resorts from $160.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Barclays upped their price target on shares of Wynn Resorts from $141.00 to $143.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Zacks Research cut shares of Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Mizuho boosted their price objective on shares of Wynn Resorts from $131.00 to $134.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Finally, Susquehanna restated a “positive” rating and set a $133.00 target price on shares of Wynn Resorts in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.87.

Wynn Resorts Trading Down 1.8%

Shares of Wynn Resorts stock opened at $107.45 on Thursday. The firm has a market capitalization of $11.17 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 12.94 and a beta of 1.06. The firm’s 50 day moving average is $116.34 and its 200 day moving average is $120.45. Wynn Resorts, Limited has a 1 year low of $65.25 and a 1 year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. Wynn Resorts had a net margin of 4.59% and a negative return on equity of 38.04%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.42 EPS. As a group, research analysts anticipate that Wynn Resorts, Limited will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, February 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.9%. Wynn Resorts’s payout ratio is currently 33.33%.

Wynn Resorts Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.